Good news for SBI users, NEFT, RTGS charges reduced upto 75 percent

According to the statement released by the country’s largest public sector bank, State Bank of India (SBI), they have reduced charges for National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions upto 75 per cent effective and the above said will be effective from July 15.

The reduced charges will be applicable on the transactions done through internet banking (INB) and mobile banking (MB) services offered by the bank. Additionally, bank has also waived charges for fund transfer of upto Rs 1,000 done through Immediate Payment Service (IMPS) effective July 1, 2017, the statement said.

Rajnish Kumar, Managing Director – NBG, SBI stated: “In sync with our strategy and complementing the focus of government of India to create a digital economy, we have taken one more step to promote use of internet banking and mobile banking for doing NEFT and RTGS transactions by reduction of the charges.”